Beazley and Hannover Re lead Euro-listed carriers trading at premium to book
London-listed Beazley and reinsurance giant Hannover Re are both trading at a significant premium to year-end book value following the rebound in global equities that swept European markets last week.
Pool Re shows Covid-19 fall-out can be managed in partnership
While the economy remains in a state of flux over the coronavirus, Pool Re CEO Julian Enoizi outlines the ways governments could emulate the HM Treasury’s unlimited support of the UK’s terrorism pool to create insurance markets for risks that are currently commercially unviable…
Wimbledon pandemic cover to bite London market as cancellation decision looms: reports
Losses incurred from the cancellation of the annual Wimbledon Championships tennis tournament are likely to be covered by pandemic insurance cover as organisers prepare to announce whether or not this year’s tournament will take place as planned.
European (re)insurance equites fall as crude tumbles on renewed virus fears
European (re)insurance equities slipped in early trading on Monday as recurrent coronavirus jitters and renewed pressure on oil prices dented investor confidence.
Scor delays AGM after activist complaint
Scor appears to have responded to activist investor CIAM’s complaint last week that 17 April was too early to hold its annual general meeting (AGM) and has now announced it will take place on 30 June.
Perils pegs storm Dennis/ Victoria losses at Eur286mn
Loss aggregator Perils has issued its initial loss estimate for extratropical cyclone Victoria, which is also known as storm Dennis, with insured property losses currently standing at Eur286mn ($317.3mn).
CIAM reignites Scor fracas on Kessler pay and AGM date
Activist investor CIAM has reignited its long-standing skirmish with Scor, hitting out at the reinsurer’s decision to hold its AGM during the Covid-19 crisis and reiterating criticisms on the carrier’s executive pay policy.
Moody’s goes negative on trade credit insurers as Covid-19 hits outlooks
Moody’s has downgraded the outlooks of three trade credit insurers – Atradius, Coface and Clal – who it believes would be negatively impacted by higher claims frequencies and the havoc wrought to equity markets by the spreading coronavirus.
US futures fall as European rally ends on fresh virus jitters
US stock futures dropped ahead of the opening bell on Friday, signalling an end to a three-day rally in American equities after European markets ran out of steam amid mounting evidence that the coronavirus pandemic is taking a severe toll on the global economy.
Reinsurers “in reasonable shape” despite financial markets hit: GC
Reinsurers remain “in reasonable shape overall” despite the hit to capital and earnings from financial markets turmoil that has led to the Solvency II ratios of Europeans in the sector dropping from 235 percent to 206 percent in the year-to-date, according to Guy Carpenter.
Wall Street futures trade lower on jobless figures as global stocks falter
Global equities retreated on Thursday while US stock futures pointed downwards as investors await a report that will give a first sense of how much damage the pandemic is doing to the American labour market.
US futures erase gains as European rally loses steam
Wall Street futures followed European stocks into reverse today as markets shed gains from an earlier surge after lawmakers in Washington reached an agreement on a $2trn stimulus package aimed to support the economy harmed by the coronavirus shut-down.
European (re)insurers continue boom after US Congress agrees $2trn coronavirus stimulus
European (re)insurance stocks have leapt for a second day this morning following a historic rally in trading yesterday as investors appear endowed with a fresh sense of optimism from the enormous transatlantic stimulus packages and the sector’s defensive appeal.
Covid-19 sell-off squeezes European multiples despite yesterday bounce
Despite yesterday being the best day for European equities markets since 2008, the coronavirus-inspired March rout in global equities means three out of four of the Continent’s largest P&C carriers still trade at a discount to book, based on year-end values.
European (re)insurance stocks have best day since 2008 on stimulus optimism
European (re)insurance stocks rallied on Tuesday in their biggest single-day surge since 2008 as investors reacted to tough talk and stimulus measures from policymakers and digested the Fed’s pledge to buy an unlimited amount of bonds to shore up the World’s largest economy.
Airmic ‘reluctantly’ cancels 2020 conference
Risk managers’ association Airmic has halted plans to host its annual conference in Edinburgh this June as the coronavirus pandemic escalates, following in the footsteps of US counterpart RIMS.
BMS builds in Spain with Jurado Mata acquisition
BMS Iberia, the Spanish subsidiary of BMS Group, has acquired Granada, Spain-based broker Jurado Mata.
European stocks surge despite UK coronavirus shutdown
European (re)insurance stocks jumped sharply in early trading on Tuesday following Asia-Pacific markets back into the green as investors react positively to the US Federal Reserve, which yesterday said it will buy as many bonds as it needs to support markets and the economy.
Asia-Pacific stocks rally on Fed’s bond pledge; Europe and Wall street tipped to follow
Asia-Pacific (re)insurance stocks rallied on Tuesday with US and European markets set to follow after the US central bank vowed to buy whatever amount of government bonds necessary to shield the economy from the impact of the coronavirus pandemic.
Perils pegs Cyclone Sabine loss at Eur1.6mn
Perils has estimated that Cyclone Sabine, also known as Ciara or Elsa, which struck the UK, Western and Central Europe in February is set to ring up an insured loss bill of Eur1.6mn ($1.7mn).